CryptoFinance & Economy

The true nature of "money" discovered by humanity: From the birth of currency to crypto assets

2024/12/04 18:53 (Updated 2025/04/18 17:42)
Editors of Iolite
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人類が見出した「お金」の正体 貨幣の誕生から暗号資産まで——

The potential of non-transferable stone coins

Have you ever seen a giant stone currency carried by a primitive man in a manga or something? That currency actually exists. It is located on Yap Island in the Federated States of Micronesia. Even in the 19th century, this island had almost no exchange with the surrounding islands, and the islanders lived in an extremely primitive society.

For this reason, from the end of the 19th century to the beginning of the 20th century, many scholars visited the island to investigate it as a valuable sample to observe primitive human society. What they saw was a giant stone currency called "fey" that seemed impossible to carry.

It ranges in diameter from about 30 cm to nearly 3 m, and the largest ones weigh over 1 ton. The characteristics of fey are that they were specially cut and transported from a distant island, and because they are too heavy, they are not carried like normal currency. Even if this currency was used for buying and selling, it was never handed over to the other party, but was left in front of the house or on the roadside.

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Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.